 Slowing growth in home markets, rising cost pressures and a worsening macro-economic environment have prompted global financial services firms such as Nomura, Credit Suisse and Morgan Stanley to dismiss scores of employees in their India units.
Around 200 people in India had lost their jobs in these three companies in the past couple of months.
Nomura, the Japanese financial services agency, has asked around 100 employees across its businesses in India to leave the organisation. Nomura employs nearly 3,300 people in India. Most of the layoffs have happened in the firm's wealth management operations.
The real estate team has reduced significantly. Similar pruning has been done in the investment banking and capital markets team. Most of the employees have been asked to leave and only a few have been accommodated in other verticals.
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